This is a big relief to middle-earning people who have saved for their retirement over 40 years, and who depend on their IRA and 401 K investments to help fund a moderately comfortable retirement. Had Biden been able to push through his inflation-hiking bill, the Fed would have been under even more pressure to quickly raise interest rates to try and control Biden’s out-of-control inflation, and the entire middle class - in addition to dealing with double-digit inflation - would have seen their investments plummet.